- The sha-256 algorithm is just a better password.
- The blockchain is just a proof of work like a timeline.
- Distributive ledger removes the need for centralization.
- The coins represent and ownership in the tech, almost like buying shares in a company.
- Smart Contracts represent all instruments used in today commerce.
We are creating a new open world, where evil is out in the open.
What is happening right before our very eyes, the end of the everything as we know it. The password, the bain of people's interactions with computers has been upgraded. Every lock has a pick, sha 256 and other algos will be one day be picked or hacked. Until then, these are the best locks we got. This encryption provides better handling of important sensitive data. Combined with a good password encryption creates the safest environment to conduct your business online. Running nodes "mining" to continue the active blockchain somewhat ensures the information has not been tampered with. The proof of work is confirmed by a network of individuals mining the particular coin. Collecting these coins can provide people a store of value for E-commerce. It is the feeling today that only coins with a use case are the real cryptocurrency, because like a gift card you can get something the business offers in trade for it. Trading these coins is very popular with the younger generation but coins without real value backing them will continue to be with us be with us. Some are more secure faster cheaper and getting better. The systems of yesterday are not streamlined for today's high-speed world.
In our new world, we do not need regulatory bodies they are built into review boards everything is out in the open. Hiring a tradesman based on need and their specialty. Auction style boards will open new markets for people to receive goods and services or to find work. No more just getting whoever they send out. Finding someone with real reviews, more specialized and available work for humans. Artificial intelligence will need compensation, for upgrades and maintenance just like us but not all AI will have the ability to carry cash or get through the KYC rules at their local bank.
These new currencies facilitate that and create a new open trade environment, free of bureaucracy. Open trade means less need for governing bodies and that creates less tax and lower cost to consumers. Office holders get pushed into the workforce becoming more productive because we no longer to pay someone to sit in an office, that does not exist. The business/industry that creates no product will be replaced with smart contract makers. These individuals will then create smart contracts to go with every new fully digital market replacing live commerce.
Retailers bring it to you, so you can't come in and steal it. Retailers get paid instantly no waiting for a check to clear. If you do a bad job everyone knows, if you always complain everyone knows. Your credit score is no longer a secret it is your pride that you do what you say. This kinda blocks backdoor deals always a paper trail. People are not as money motivated, maybe they are in tune with what they want. I see a world where people who are well qualified and proven to do what they love will succeed. No need for business licenses only reviews from peers and customers. People can take power over there own lives and have an information hub that is true and honest. Everything I have talked about is already here, and being perfected. People do not understand how their money works now. So people will still find new lines of work educating and helping older generation find ways to work with crypto. These new business structures will be more available as the next generation gets older! I see a bright future in cryptocurrency as it has already (like the internet) come into our lives with us even knowing.
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